Schafer: Gold is not the place to look for a safe haven

  • Article by: LEE SCHAFER , Star Tribune
  • Updated: April 17, 2013 - 8:53 PM

Earlier this week the Reuters blogger Felix Salmon asked if the weather outside had warmed up to 5,173° F.

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cavellApr. 18, 13 7:09 AM

1 trillion lost? which means it was OVERPRICED? like my house value? the price is whatever someone is willing to pay. like the stock market going up or down 2% each day depending on peoples moods? nevermind the companies performance goes up and value goes down.

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akerlindApr. 18, 13 9:20 AM

From your column it looks like you have a lot to learn about the utility of gold. Also, a column concerning itself with the many claims of alleged price fixing in the gold market would have been more interesting to your readers.

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lizardbrainApr. 18, 13 2:26 PM

You write an article on why people buy gold and didn't mention mention the Federal Reserve once? You're obviously aware that they are printing $85 billion per month with no signs of slowing down or a realistic exit strategy. Not to mention Japan/Europe/China. Real gold bugs don't buy paper gold ETFs as an investment, they purchase physical gold as insurance. Physical demand for gold continues to grow, and Central Banks (the same banks printing all of the paper)continue to buy in record amounts. Martians would also observe that every single physical good that paper money buys comes from the ground as well.

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folden1Apr. 18, 13 3:54 PM

The author doesn't grasp the relationship between physical and paper.

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marsbonfireApr. 19, 1310:34 PM

And I see outraged Glenn Beck fans that have been duped by the stupidest man on talk radio have rushed to criticize Mr. Schafer for his astute opinion.

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supervanApr. 20, 1312:46 PM

It would have been difficult to engage in any "price fixing" if there weren't so many sheeple thinking they were going to get rich with gold.

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